Coupled multielectrode array sensors (see U.S. Pat. No. 6,683,463 and No. 6,132,593) have been used for corrosion monitoring and electrochemical studies (see L. Yang and N. Sridhar, “Coupled Multielectrode Online Corrosion Sensor,” Materials Performance, 2003, September issue, page 48). The present invention is related to how one can derive a more meaningful localized corrosion rate using the concept of multielectrode electrochemical devices or corrosion sensors.